ST. PETERS, MO. — Seniors housing developer Avenue has opened its first Viva Bene active adult community in the St. Louis suburb of St. Peters. Viva Bene is Avenue’s active adult brand and is focused on offering midmarket-priced rental rates. At nearly 200,000 square feet, the St. Peters property offers 161 units. In the three months since its soft opening, the community is 50 percent leased. In addition to providing readily available preventive healthcare, Viva Bene provides a holistic wellness hub with fitness, yoga and meditation classes, a fully appointed gym, healthy cooking workshops and other wellness-focused experiential education. Residents can enjoy pools, pickleball courts and picnic areas. Unique to the Viva Bene model is a third-party collaboration with Sevi Health for preventive health services. Residents can opt to receive care navigation and chronic care management services from Sevi Health and also access primary care from the medical practice’s providers. Viva Bene leases are based on each metropolitan area’s midmarket rental pricing. At Viva Bene St. Peters, one-bedroom units start in the $1600s per month. Garage parking and additional storage units are the only add-on fees. This differs from continuum-of-care communities where monthly prices average $3,450 and fees for buy-in …
MILWAUKEE — Kiser Group has brokered the sale of a 120-unit multifamily portfolio in Milwaukee’s Near West Side for $5.2 million. The four-property portfolio, which was 93 percent leased at the time of sale, included 2848 W. Wells St., 2929 W. Wisconsin Ave., 2635 W. Juneau Ave. and 2625 W. Juneau Ave. Luis Robles of Kiser brokered the transaction. The buyer owns a significant number of nearby assets. The deal represents the highest-volume multifamily sale in the Near West Side in 2025, according to Kiser.
LANCASTER, PA. — Northmarq has provided a $20.1 million Fannie Mae loan for the refinancing of Pioneer Woods, a 160-unit apartment complex in Lancaster, about 80 miles west of Philadelphia. Built on 30 acres in 1974, Pioneer Woods offers one-, two- and three-bedroom apartments, as well as two-bedroom townhomes. Amenities include two playgrounds, a grilling and picnic area, pet stations and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.
HOLMDEL, N.J. — Locally based developer Walters has completed the lease-up of Cornerstone at Holmdel, a 50-unit affordable housing project in Central New Jersey. The property consists of three buildings at 461 Middle Road that house one-, two- and three-bedroom units that are reserved for renters earning 60 percent or less of the area median income. Amenities include a fitness center, playground, outdoor grilling and dining stations and an onsite social services coordinator. Walters completed Cornerstone at Holmdel last summer, and the property is now fully occupied.
GAINESVILLE, FLA. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities in the United States. According to the property website, amenities include a fitness center with trainers, pool with a hot tub, tennis and pickleball courts, a reading room, hair salon, woodshop, housekeeping services and internet access. The community also offers scheduled transportation throughout the grounds and off-campus. The property sits across from Santa Fe College, a two-year community college, and within five miles of the University of Florida. SantaFe Healthcare has owned and managed The Village at Gainesville for more than 30 years and has overseen three expansion projects at the community from 1986 through 2009. The locally based healthcare owner-operator injected capital expenditures of $3 million annually into the …
NEW YORK CITY — Newmark Group has brokered the sale of a student housing portfolio situated across four states. Located near major public universities in Florida, Texas, Indiana and North Carolina, the portfolio comprises five properties housing 3,693 beds across 1,248 units. A joint venture between Nuveen and The Preiss Co. was the seller. The buyer and sales price were not disclosed, though Newmark states the transaction represents the largest U.S. student housing portfolio sale this year. The undisclosed communities serve students attending the University of Texas at Austin, North Carolina State University, Texas State University, the University of Florida and Indiana University. Each property is situated an average of roughly 0.9 miles within its respective campus. Amenities at the communities include swimming pools, grilling stations, fitness centers, outdoor recreation areas and study rooms. The Preiss Co. recently closed on the recapitalization of the portfolio, which Newmark also arranged. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment. Several properties will also receive unit interior renovations including the addition of modern cabinetry, updated flooring, contemporary fixtures and hardware, new lighting …
PEARLAND, TEXAS — Houston-based developer Pelican Builders has broken ground on a 380-unit multifamily project within Pearland Town Center on the southern outskirts of Houston. Pelican Builders purchased the site at 3200 Business Center Drive from Tennessee-based REIT CBL Properties, the master developer of Pearland Town Center, about two years ago. Units at the yet-to-be named apartment community will come in one- and two-bedroom floor plans and will range in size from 604 to 1,196 square feet. Amenities will include a pool, dog park, children’s play area, fitness center, business center and access to walking trails. Meeks + Partners is the project architect, and OHT Partners is the general contractor. Construction is slated for a second-quarter 2026 completion.
BOSTON — MassDevelopment has provided $45.2 million in tax-exempt bond financing for a 96-unit affordable housing project that will be located at 127 Amory St. in the Jamaica Plain area of Boston. Developed in partnership with the Boston Housing Authority, the building will offer 12 three-bedroom units, 51 two-bedroom units and 33 one-bedroom units, the majority of which (86 residences) will be reserved for households earning between 30 and 80 percent of the area median income. The other 10 units will be set aside for formerly homeless individuals or families. The building will also have 3,800 square feet of community space and a central green area. The borrower is an affiliate of The Community Builders Inc. Eastern Bank purchased the bond. The capital stack also includes $40 million in federal Low-Income Housing Tax Credits and a $15 million construction loan from Cambridge Savings Bank.
PHOENIX — Phoenix-based Christiansen Ventures LLC has purchased Broadstone Uptown PHX, an apartment community in Phoenix, from Scottsdale, Ariz.-based Alliance Residential Co. for $87 million. Austin Groen, Matt Pesch, Asher Gunter and Sean Cunningham of CBRE represented the seller in the deal. Troy Tegeler and CJ Connolly of CBRE’s Debt & Structured Finance team arranged financing for the buyer. Completed by Alliance Residential in 2024, Broadstone Uptown PHX offers 280 apartments with nine-foot ceilings, quartz countertops in the kitchen and baths, wood-style flooring, full-size washers/dryers, stainless steel kitchen appliances, five-burner gas cooktops and keyless entry. Community amenities include a swimming pool and spa area with private cabanas and a pool house featuring a community kitchen and billiards table; a resident clubhouse with a cafe with lounge seating, a complimentary coffee bar and a leasing office; and a 24-hour fitness center with weight training and cardio machines. Additional amenities include an outdoor ramada with 360-degree mister, ping-pong, fire pits, yard games, barbecue grills, a dog park, electric charging stations and parcel package lockers.
SAN DIEGO — Northmarq has arranged the sale of The Charmer, a mixed-use community in San Diego’s Mission Hills neighborhood. Charmer LLC sold the property to Monroe Capital Real Estate Fund for $12.7 million. Built in 2011, The Charmer features 19 apartments, two live-work lofts and three commercial units. The property offers top-of-the-line interiors, abundant outdoor space with private patios and gardens, as well as amenity spaces. Tyler Sinks, Ed Rosen and John Chu of Northmarq’s San Diego Multifamily Investment Sales team represented the seller in the deal.